|Author||Topic: Is the CFA exam curved?|
|I was wondering if the CFA exam is curved? Meaning the mythical 70% mark applies to the top 1% and then 70% right?
Meaning if the highest 1% score is a 230/240, then the 70% is applied to the 230 right?
|CFAI doesn't say exactly how they grade the exams. One way that has been discussed as a likely possibility is the angoff method. Also, it's been said that candidate's results are typically bi-modal, and there's a fairly natural breakpoint for the passing score.|
|CFA Institute is, in fact, quite explicit about this:
Since 1996, CFA Institute has used the modified Angoff Standard Setting Method to assist the Board of Governors in establishing the minimum passing score (MPS) on each CFA examination...